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. the fact is m & a activity in the u.s. is up to its best level since 2005 but it's really a segregated activity. merger activities are off 20% from a year ago, look inging a, despite the lbo, technology sectors are over 30 misyear over year. if the fed is very accommodative as capital markets are offering credit, dealing with robust activity, should help the earnings family going forward. >> is that a positive we've got more deals coming or is it where we are in the market? >> our groups at s & p capital iq 70% correlation between the actual activity and s&p 500. >> and it also speaks to the confidence people have to be putting their cash to work and it's not just dividends and buybacks but also making acquisitions to fund growth for the huge year, and this is sorting to pick up. that's a very -- i think the other point, maia. >> to put a finer point on my concern. the president is relenght on increasing taxes again and i don't think that's good for market psych swri right now. >> john? getting pack. that could be problem make. it's because of the president's filed policies that we bel
of the world, europe, still very slow, but china a bit of a rebound, and, maria, the u.s. doing okay. again, hewlett-packard better than anticipated. >> all right, david, thank you. stay right there. we're going to bring in david garrity and roger kay of end point technologies associates. good to see everybody. thanks for joining us. want to point out aig numbers are also out, and i want to tell our viewers that there is stock to buy in aig after the close tonight. just spoke with the market-maker there, so we're watching that story as well as this story. hewlett-packard though is the focus right now. david garrity, what's your take on the quarter? >> the earnings multiple for the company, single digits, a five handle. i mean, here's a company. it's great and wonderful that they are doing better in terms of businesses that are losing share in the overall computing market, and it's thighs to see that they are getting some positive margin surprises, but the fact of the matter is hewlett-packard was initially thought to be an innovator and what we see out of corner, fine, we can rearrange the
other areas. the economically sensitive name has also become a leadership group here in the u.s. >> you're paying. that's a pretty big market. russia. that's a pretty big market. i'm not -- short bonds, and agriculture, but we talked about agriculture before. >> talking about agriculture in a second. let's talk about japan. japan has been on fire. you've got the government creating all of this stimulus. is that going to end badly as well? >> japan, you know, is down 75%. 75%. >> but in the last couple of months what is it up? >> last couple of months, coming through the roof. thank you, japan. thank you, mr. abe. >> what about the nikkei average? >> i know what it's been doing. japan will continue to print money. it's not good for the world. it's making markets go up, but in the meantime i'm participating, you know, the yen is collapsing in japan, but the stock market is going through the roof. >> but if they are printing all this money in japan and you're positive on it, but they are printing all this money in the u.s. and you're negative on it? >> the american stock market has hit an
to continue to liege to the large caps but the u.s. mid-cap stocks up and if the market is up, eight straight weeks that the market has been higher. in my memory that hasn't happened in more than 20 years. >> the question is does it continue? >> i think so because there's still a fair amount of mistrust in stocks from so much of the investing public, and i'm starting to see grudgingly that institutional investors are slowly increasing their stock allocati allocation, recognizing that in most pockets of the bond market it's noust jt going to get it done for their liability. >> michael irish cammy, what do you think? do you want to put more money to work here? >> you do. we've got another 5%, 6% on the upside from here. doesn't mean it's going to be a straight line, but i think there's reasonable news coming out about earnings. the news has actively been good but it looks like there might be a resolution on that. europe appears to be destabilizing and i don't see why the market doesn't go the up 5%, 6% from here and in particular areas like large cap we although continue to find rotation as peo
, where are we going, all on the same track. right now the way to put the money is put it in the u.s. japan has obviously benefitted from that. >> you have not been alone on the floor here among your trading brethren who have been skeptical of this rally as it continued. some others though have thrown in the towel and are going with the trend higher. are you still skeptical? >> i'm definitely still skeptical. >> okay. i think the risk is to the down side. if we get a 5% pullback, which would not be bad for the market, are people going to put their money to work. putting it into work when times are good. when times are bad, markets back off and that's where markets seem to accelerate. >> going out neither highs of the day with the dow up about 5.25 points here, and the s&p up a fraction right now. stand by. a lot of earnings news coming your way. plus former fdic chair sheila bair coming on the second hour of "closing bell." >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the new
the purse strings a little bit. nothing to write home about but in the u.s., for example, state and local governments grew for us and federal was not down year over year as we've seen in prior quarts. >> do you have any clarity on what this tells you in terms of the next couple of quarters on government spending? >> not in terms of government spending, maria. it does tell you if governments are going to deliver increased services to their customers they have to spend on i.t. most government leaders do the exact wrong thing. they basically try to hold on to all the employees and don't right size the organization and then use i.t. to provide better health care, education, security to their citizens. that usually takes a period of time, but for your state and local government, first resisted spinning i.t., perhaps ten months ago and it's picked up at a healthy growth rate of 7%. >> john, let me switch gears for a moment because you and many of your colleagues in business seem to be faced with this embarrassment of riches, and that is sitting on a lot of cash in terms of giving you great flex
the u.s., and i think the outperformance that we saw in the last part of last year can take hold again this year. >> yeah. allen gale, are you paid to put money to work, got to put some money to work or even if this market is going to see a correction of some kind. where would you be buying right now? >> to kind of echo michael's sentiments. allocation strategies is on the international front so we do like to develop markets. we are adding to the emerging markets as well so we think that at the margin this is a good story. this is a -- you know, as we go through 2013 we think the international space is going to continue to outperform. meantime, i think it is important to see that the fed is committed to this -- to this expansion continuing, particularly in the face of the fiscal tightening that we're likely to see. the fed doesn't really have any choice in their own mind. >> they have to keep reminding us that it's not going to last forever. the conversation has to start at some point. >> that's right. >> and what we're seeing is the conversation today, at what point do we start taking
is actually getting better. look at all of the u.s. data this week, durable goods, pending home sales, case schiller, core logic, ism, across the bond, even the gdp and non-farm payroll numbers today, a lot of interesting data points under the surface that are actually showing things are getting better. maria, you said before to herb, don't fight the fed. it's working, clearly. now you also have china doing a little bit better, 50 on the pmi overnight. europe had the best pmi in nine month. not everything is per forgets and i certainly think we'll see a volatility, but everybody is talking about a correction, and i think at the end of the day the facts are things are getting better. oh, by the way, earnings are running at about 5%. that's different from the third quarter when we saw negative 5%. i would say earnings are not decelerating, actually in the bottoming process and headed higher. >> what about that, scott? you said it is decelerating. >> earnings are only going to be up about 5% this yore. we're at that point of the psych. i think that all the things that stephanie mentioned are t
and what's ahead for the next month, mark spellman from value line funds, tim leetch from u.s. bank and david kudlow and our own rick santelli. gentlemen, good to have you on the program. changes so much for joining us. thanks for being here. let's talk about what happened at the end of the day. is this an indicator of what's to come tomorrow? what's your take? >> not necessarily. i do think -- i'm in the stay calm and carry on kind of mode. we don't like to see stock charts go straight up, so any kind of correction on the back side is good for the market, healthy for the long term health of the market. >> but it certainly was a lot of volatility. maybe that was just because of the rebalance of the russell and s&p. >> i think so. >> david, what do you want to be doing now in terms of money? you want to allocate new money to this market or stay away? >> well, we've come a long way since mid-november. the market up about 14%. done that with no more than a%% pullback h.a lot of people forecasting that 5% to 10% pullback but we haven't seen it. we know we will at some point so traders c
. on the same framework the u.s. market is about 18% below its long-term trend which is positive, and certainly where we're more bullish is international markets where in developed international that's 30% plus below the trend. >> which international markets, like japan or what? which markets? >> well, japan certainly is a fascinating case. you know, here's a market that last saw its highs in the early '90s. it's the cheapest -- on a price-to-book basis that's literally the cheapest developed market in the world but it's also been the ultimate value trap for the year. the difference potentially this year is the changes at the bank of japan and the changes politically that are happening that are causing potentially the independents and the bank of japan to be compromised which somewhat paradoxically could be the best thing for equity markets in japan so i think japan is very interesting here. i think broad developed international is interesting. japan and europe both on our models are inexpensive and both have cat lifts that we believe that could help them have very good 2013s. >> how do you res
that are supplying to china. that doesn't deter the economic outlook globally or for the stock market in the u.s. but it's a bit of yellow flag out there to investor and look what happens to their stock returns, mediocre compared to domestic returns here. >> what's the most damaging implication for the u.s., companies deriving revenue to a significant amount like yum brands is because of the slow down due to the china slow down? >> i think moderation, and the good news here in the u.s. and midwest, a rebirth in manufacturing. i think bodes well for the u.s. and bodes well for many stocks in those industries. >> how, do you -- go ahead. >> a poultry specific issue for china. the car sales in china is supposed to be off the chart so i think it's getting better, a and the stock market is it telling us that. other companies are starting to bring their manufacturing to the united states because the natural gas price is so low over here. >> yeah. they are also going to mexico. ed, jump in here. how do you invest it? >> well, i'll tell youing everything that they are saying i agree w.china obviously go
and everybody still continued to love it and not kick the tires. many think that's the way the u.s. stock market is going to end. many down here say the trigger, well, look at what coke said, caterpillar and ford. the cracks in their well anticipated and well received earnings were europe. maybe the key is europe. others think it's japan. like kyle bass, that's what traders down here are focusing on. >> what about that? david, do you see a downside risk to the fed, easy money here? i mean, do you think at some point this comes back to bite us? >> well, there's -- you know, and we haven't talked about this. hasn't been talked about the exit plan for the fed when they want to reverse policy. i think the risk this year is will qe be mitigated or send this year. that will certainly have an impact on bonds and i think that is a catalyst for rates moving tied and this great befolks and i think we'll see more evidence of that this year. i don't think rates are going up for a while but a good chance they back off on qe and we start to see that rotation. >> okay. you think then that qe starts ending some
brands rocketing up, raising a bid to buy the u.s. assets of brewer group modelo and an attempt to apiece regulators for the haush haush/imbey v deal. berkshire hathaway teaming up with 3g capital to buy heinz and in the red today, century link, the land lied provider, cutting its dividend by 26%. whole foods also having a down day. the supermarket chain forecasting weaker sales and margins for the rest of 2013. as for the dow, winners on the day include alcoa and banks like jorg anne which edged higher. the worst per former among the blue chips, general motors, which reported and missed estimates. wider losses in europe and higher costs in north america. guys, back to you. >> all right. we'll leave it there. thank you so much, josh. much more ahead on this jam-packed edition of the "closing bell." high seas drama will take you back where the carnival cruise ship is slowly being tugged to shore right now. stranded passengers complain of overflowing toilet but management says they are doing all they can, and now the lawyers are lining up. also ahead, have you checked your 401(k) lately? if
, and international, it did well today outside the u.s., but they are still negative, at least for this month, so as far as maybe moving away from a market that maybe has gotten a little overheated in the short run, outside of the u.s. and emerging markets might be a good place to move to. >> we've got to go. gentlemen, thank you very much. blackstone's byron wean not buying this rally saying investors need to be suspicious of the wave of euphoria and focus on the fundamentals and joins me on the telephone. good to have you on the program. thanks so much for calling n.appreciate your time, byron. >> always good to talk with you, maria. i think you had a lot of good ideas presented by the other people earlier. there were a lot of cross-currents today, and they should give investors some pause. >> what concerns you the most, byron? >> fundamentals are really key here. >> what concerns you the most, byron? >> well, i'm concerned about the fact that people are oblivious to the fact that the 2% payroll tax is over. people will have less money in their pockets. the sequester looks like it's going to ki
is going to be twice what the u.s. is. >> such an interesting story. i love it. we'll keep talking about that. thank you, everybody. we'll see you soon. >>> back to our top story. the justice department reportedly planning to sue standard & poor's for fraudulent rating bonds that led to the financial crisis. moody's was also down big because there was a fear this could spread to the other ratings agencies. joining me on the phone ed aderino who covers both stocks. what's your reaction to this? >> a little bit of deja vu. they've been through the wringer many times. i don't know if you recall the recent financial crisis. they were in front of just about everybody. they've been, you know, diced and rediced. investigators have been all over that company with a fine toothed comb. and over the centuries -- many years, there have been many lawsuits. they have won every single lawsuit. never lost a lawsuit. one of the key strengths of these companies is courts upheld time and time again that a rating is an opinion. it's not a prediction of price. it's not a prediction of fault. they've been uph
on the common currency. the euro lowest against the dollar since january 11th. in the u.s. concern about the spending cuts due on march 1st. add it up, lots of worry. the vix also called the fear gauge surging some 34% in today's session. >> thank you. >>> meanwhile, another concern for the economy and the stock market is computer hacking. our entire financial system love lives in a digital world. let's go live to the rsa security conference in san francisco where eamon javers is standing by. rsa is one of the top cyber security firms in the world, right? >> that's right, sue. they've got hundreds of experts here. this place is crawling with cyber security experts. what's stunning to me is the gap between what you hear from cyber security experts and the folks in washington and what you hear from the companies themselves. we spent time looking through filings to find out how often companies are disclosing cyber attacks that they really experienced. we could only find a couple of handfuls of examples of companies revealing that. you've got cyber security experts saying this is a huge prob
ceos representing 15% of gdp. and we had the minister of economy and the u.s. ambassador to rome came to that. so, the case here is that italy should be looked with fresh eyes because of the numbers and it will provide investor with a lot of satisfaction in years to come. >> fernando, good to have you on the program. busy news day for you. appreciate your time. fernando napolitano. >>> a huge uproar from bourbon drin eckers. maker's mark saying it's cutting the alcohol content of bourbon to stretch out supplies. that's next. stay with us. at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal
, seeing good flows into u.s. equities continually. the g-20 this weekend, a lot of saber-rattling, and saw a lot of money moving out of gold. we saw soros cutting their holdings and moving into their stocks. we haven't seen the big rotation out of bond market and into stocks, but we have seen a lot of money moving out of the commodity market and moving that money into stocks. >> yeah. we're still trying to figure out if that's a trend. rick santelli, you say you're not seeing it in terms of fixed income money? >> no, i mean, none of the -- >> we're not seeing that either. >> there's actually a removal out of something, there may be just less of a volume of money going in, but, you know, i like to look at the equity markets the way i look at spreads on the trading floor. we are at a premium spread to most of the other world equities. what did i notice today? the knee say is slipping into negative territory on the year and the daxx is to within 1% of slipping too negative territory. no matter how much better we are, if we see this trend in japan continue, if we see this trend in europe conti
that's a good thing that's hit sitting there. >> might be more than the u.s. government has their thands on. >> aal has been an amazing story. i don't know if that changes your mentality as a corporate interity their can never have too much cash. maybe that's one thing. >> that's a good point and the pressure to do something with it, to return it to shareholders. >> that's really important. from our shareholder base we really believe in returning cash and i think shareholders really appreciate that. they are chasing yields so it's having -- still a dividend over the woman of years. i wand to talk about acquisitions. >> this value game is focused on taking the money back. how about expanding the money share. how about sitting with china mobile. can't make a deal because they are worried about subsidies. they are getting hurt over there becauses prooit prices are too high. how about an iphone mini or iphone 5s. samsung has a new device coming out and will kill them off europe in europe. >> mostly invested in apple because for ten years i've owned all their products and it worr
Search Results 0 to 18 of about 19

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